The UK’s path to cryptoasset regulation

At the end of April 2025, HM Treasury unveiled its vision for cryptoasset regulation by publishing draft cryptoasset regulations in the form of the draft Financial Services and Markets Act 2000 (Regulated Activities and Miscellaneous Provisions) (Cryptoassets) Order 2025 (the CA Order).

As well as giving us the first draft of the legislation, the CA Order sheds more light on the legislators’ approach with the majority of clauses building on those already in place for Specified Activities and Specified Investments found in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO).